NEW YORK, Oct. 3, 2017 /PRNewswire/ -- DecoPac, Inc. ("DecoPac" or the "Company") today announced that it has participated in a growth recapitalization with affiliates of Snow Phipps Group, LLC. ("Snow Phipps"). The terms of the acquisition were not disclosed.
Headquartered in Minneapolis, MN, DecoPac is a leading direct-to-store distributor, technology and supply chain solutions provider for bakeries, professional cake decorators and baking enthusiasts across the U.S., Europe and Canada. The Company sells a variety of unique licensed and non-licensed products, including DecoSets® and DecoPics® and has developed a proprietary, print-on-demand solution called PhotoCake®, which allows bakeries to print edible customized images onto baked goods. The Company manages facilities in Anoka, Minnesota as well as in the United Kingdom where it operates under the Culpitt and Sugarfayre brands.
As part of the transaction, Michael McGlynn, DecoPac's current CEO, has been named non-executive Co-Chairman of the Board.
"The McGlynn family has been in the bakery business for nearly 100 years starting from our origins as a retail bakery in Minneapolis, Minnesota. The decision to partner with a private equity firm is one that our family members took very seriously," said Mr. McGlynn. "We are confident that Snow Phipps is the right partner for us given their consumer investing experience and its many resources available to bolster DecoPac's continued growth. We look forward to a successful partnership with Snow Phipps and I and several of my family members are excited to remain significant shareholders in the business."
DecoPac's current President, John Anderson, has been promoted to CEO.
"We look forward to the next phase of DecoPac's evolution," said Mr. Anderson. "There is a plethora of opportunity in the industry and we are excited to see what we can accomplish in partnership with the Snow Phipps team."
"DecoPac represents an opportunity for Snow Phipps to partner with a long-tenured management team that has demonstrated the ability to serve as a market-leading, value-added distributor of bakery-decorating solutions with a unique, technology-focused business model," said Sundip Murthy, Partner at Snow Phipps. "As retailers continue to invest in their in-store bakery footprints, there is strong demand for top-tier supply chain quality and service. DecoPac is distinctly positioned to help its customers drive profitable growth."
Snow Phipps Operating Partner Peter Shea will serve as the non-executive Co-Chairman of the Board.
"DecoPac represents an opportunity for Snow Phipps to participate in the rapid growth surrounding the in-store bakery," said Mr. Shea. "The McGlynn family has done an outstanding job providing best-in-class supply chain service and solutions for bakery operators. We are excited to participate in the next phase of the Company's development."
DecoPac is the preeminent supplier and marketer of decorating solutions for bakeries, professional cake decorators and cake-decorating enthusiasts across the U.S., Canada and Europe. DecoPac, through its industry-leading, proprietary digital, internet-based technologies, reaches North American retailers as well as more than 20,000 independent bakeries and small in-store chains in North America. DecoPac's proprietary technologies and extensive portfolio of licenses allows customers to provide customized baked goods with short turnaround times, while in-store kiosks and online ordering software make it easy for consumers to order cakes anytime and anywhere. The Company holds key licenses to use some of the world's most recognizable entertainment brands and professional sports leagues. The Company was formed in 1982 as an internal supplier of cake decorations to McGlynn's Bakery stores, a family-owned bakery founded in 1919.
About Snow Phipps Group
Snow Phipps is a private equity firm focused on middle-market control investments. With $2.4 billion of assets currently under management, Snow Phipps targets platform companies with enterprise values ranging from $100 million to $500 million. Other current consumer-related investments include Teasdale Latin Foods, Feradyne Outdoors, ECRM, and Laureate Education. The firm utilizes an operating partner model to invest across the consumer, industrials and services sectors and seeks value creation through an operationally focused strategy. To learn more about Snow Phipps, visit www.snowphipps.com.
SOURCE Snow Phipps Group, LLC